how do you and FH plan on handling $$$? Will you form one checking account? keep things separate? I don't know how to handle this, here's the deal:
FH & I have been living together for three years and up until now, we've kept everything separate, partially because of the very big difference in pay. Now FH is making a lot of $$$ but he's also charging a lot on our credit card (while I'm charging nothing) so I'm having a problem justifying splitting that. And, now that he's making more we discussed splitting all the bills (I used to pay more because I made more) and we're trying to come up with a system. FH gets paid in cash, I don't. And I fear that by opening a joint checking account, FH will take $$$ out but not put any in.
What should I do? How do you suggest I handle ?
Meaghan729
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Re: how to handle $$$$
Suze Orman has a good way of doing it - look on her website - she suggests adding all of the 'joint' bills you have (mortgage, food, cable, etc) and then dividing them as a % of income.
laural2979
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Re: how to handle $$$$
That sounds like a serious discussion that you and FH need to have. If you can't trust him to manage your money then you're going to have problems when you get married. I think that the two of you need to sit down and discuss exactly how you're planning on handling it.
cherish83
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Re: how to handle $$$$
We have a joint savings right now... I have my own personal checking.. I think we will eventually have joing checking as well. Right now our joint savings is for the wedding and saving for a place/
ali120206
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Re: how to handle $$$$
We're going to eventually have a joint checking account and I'm going to handle the bill paying because I do a better job saving than my FH.
He bartends a lot so he gets a lot of cash tips so he uses that as spending money. I do a lot of charging but a good deal of it is on presents and household items so splitting it isn't an issue.
We had a long talk about it when we moved in together. He's quite the traveller and I'm more of a saver so I was worried that I would be subsidizing his trips. He plans on working more hours at the bar to make up for the money he spends on the trips so, other than the fact there are a lot of trips coming up and I'm going on none of them, money isn't an issue.
cherish83
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Re: how to handle $$$$
Posted by ali120206
We're going to eventually have a joint checking account and I'm going to handle the bill paying because I do a better job saving than my FH..
Me too... he has no concept of saving when money is in his pocket!!!
bellaro782
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Re: how to handle $$$$
Hummm Im very very bad with money LOL i spend money on stupid things and dont realize it I think i will hand over pay check to FH and have him give me money each week...
EGreene79
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Re: how to handle $$$$
We plan on having a shared account that we each contribute an equal percentage to, but we'll also have our own accounts with personal spending money. We also have a shared credit card, but again also have our own cards. A majority of our expenses currently go on our shared CC, and a larger % will go to the shared account than to our personal accounts, but there are some things that are better left to our own accounts/CCs - at least for us.
CLMon7906
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Re: how to handle $$$$
you gotta talk this out.....i've seen this be an issue and seen men be walked all over with wives who become ULTRA controlling..the ultimate control is the wallet of course....one couple i knew, the wife didn't trust the husband to take out $$ and tell her or keep up with it to the point that the bank account was only in her name and she gave him an allowance...to this day, he's never held the ATM card. You don't want to be that woman. Keep them separate if you must...but know that is a war zone in an of itself...what happens when someone needs more $$ to cover a bill they are supposed to pay out of their account because of unexpected car repairs??
In the end, you two must work this out and come to an understanding, now is a better time than after the wedding.
sr081906
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Re: how to handle $$$$
We are both maintaining our personal bank account. Right now, since we live together and share expenses, I write him a check for my portion of the expenses.
From previous experiences (me or other family and friends), I feel it is safer to keep a portion of your income as yours. The same applies to your FH. I guess once you've be burnt you learn from your mistakes.
Some couples have a personal account and agree to have another joint account for the house expenses.
It is a discussion that you must have with your FH. It is very important that you tell him how you feel and see how he feels about it.
angnick
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Re: how to handle $$$$
FH and i have a joint account which will take care of everything.
we dont argue about money and we dont think of our money as separate - it is all ours.
